Refined Wealth Newsletter by Joe Ward Read Time: 3 Minutes The "Smart" Money Read: The smart money was on the sideline while the market went up 4%. Of course, they are still collecting their "2 & 20" fees- The 2% management fee gets charged whether the fund gains or loses money- Plus a 20% performance fee on the gains (when they exist) What are hedge funds again? Expensive, loosely regulated investment funds with a single objective: make money in the public markets by betting for or against...